The Irish rocker Bono is unhappy about being criticised for moving his tax affairs (along with those of his fellow band members) to the Netherlands to avoid tax. (Even OK Magazine has picked up the story!) As he is quoted in the Irish Times, following a tax justice protest:“The thing that stung us [about the
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I’ve noted this: The EU Commission has today confirmed proposals which would exempt businesses from financial reporting rules, if they meet two of the following three criteria: a turnover less than €1 million, employ fewer than 10 people, hold a balance sheet total below €500,000. In short, no more time and money spent preparing annual
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These are my links for February 25th through February 26th:

• Dan Roberts: RBS: nationalisation in all but name | – When it walks like a dying duck and quacks like a dying duck, it's time to hand around the orange sauce. In the case of Royal Bank of Scotland, the latest rescue plan cooked up by the government this morning has the distinctive charred smell of full nationalisation.

  The lengths that ministers have gone to to avoid facing this harsh reality are extraordinary. A whole new class of funny money has been invented to disguise the fact that the taxpayer is close to owning 95% of RBS and has virtually open-ended exposure to all its worst liabilities

• Tax Justice Network: Dear Evan Davis – are journalists doing enough to warn people of impending problems? – Up to the challenge Evan?
• FT.com / Companies / Banks – Luxembourg attacks UBS over Madoff fund – One thing that causes me a lot of pleasure is tax havens blaming each other's lax regulation

  It's always nice when they make my case for me

• FT.com / UK / Business – State to insure £300bn of RBS assets – And still we say it's not under state control

  Come on – let's be open, transparent and honest. Isn't that the mood of the moment?

  RBS is nationalised.

  Now let's treat it as such – and close down its tax haven operations for starters

• Larry Elliott: Japan's trade figures signal depression | – "Anybody who doubts that the global economy is facing its most serious downturn since the 1930s should take a squint at the latest trade figures from Japan. Exports in January were 46% lower in January than they were a year ago – a phenomenal drop for a country that is so heavily dependent on sales of its industrial products overseas."

  It's going to be a long time before that fat lady sings

I draw attention to the previous post. And then I’ll mention that I was on BBC Radio Jersey this morning – the second time in a couple of weeks. And for the second time in a couple of weeks the minister who was meant to respond to me failed to show up. Are they frightened?
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INVITATION TO A PUBLIC SEMINARon Thursday 12th March, 2009 – 6,45pmLOCATION: St. Paul’s Centre, Dumaresq Street, St. Helier (Upper Hall), JerseyOffshore financial centres: past, present, futureWhy major reform is vital As the global economic crisis unfolds, the activities of hedge funds and the shadow banking system are coming under increased scrutiny. Leaders of the G-8
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One of the commentators on my article in Comment is Free today said: I haven’t paid much attention to the UBS case. Clearly if they were telling their customers that their accounts could be used to evade tax then they are complicit, and should be charged. If however they were merely providing their customers with
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U2 have reacted to yesterday’s criticisms of their tax affairs, reported here many times in the last day. The Belfast Telegraph has reported that: On the eve of their new album launch, the band’s manager, Paul McGuinness, last night rejected accusations of hypocrisy and said Bono, Larry Mullen, Adam Clayton and the Edge were all
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I have an article on Comment is Free at the Guardian today: One of the most basic objectives of regulation in the financial services sector is that consumers be protected from unscrupulous operators. In the parlance of the Financial Services Authority everyone who is regulated must be approved as a “fit and proper” person. You
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Richard Baron, head of taxation at the Institute of Directors, gets idiot of the day award. He told Accountancy Age: I don’t think our members would have any problem about the G20 countries co-ordinating anti-avoidance legislation but they would have a problem if this leads to a higher tax burden or cost of location in
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